One portal to search for unclaimed bank deposits: RBI

Chennai, April 6

In a people-friendly move, Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday announced development of a common web portal to search for unclaimed deposits.

According to the Union government, the total of unclaimed deposits transferred to the RBI by the public sector banks as on February 2023 was Rs 35,012 crore.

At present, the depositors or beneficiaries of unclaimed bank deposits of 10 years or more have to go through the websites of multiple banks to locate such deposits, Das said.

"Now, in order to improve and widen the access of depositors / beneficiaries to information on such unclaimed deposits, it has been decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits. This will help depositors/beneficiaries in getting back unclaimed deposits," he added.